Repository: UIHistories Project: Board of Trustees Minutes - 1930 [PAGE 178]

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1929]

U N I V E R S I T Y O F ILLINOIS

175

controlling account in the general ledger. Of the total outstanding at March 31, 1919, 90 per cent were of March 1929 dating, 3 per cent December 1928 to February 1929, 7 per cent prior to December 1928. Mortgage bonds payable have been verified by a certificate obtained from the Trustee. Military deposits outstanding at March 31, 1929, have been verified by checking thefileof duplicate deposit tickets against the register in the Bursar's office and agreeing the total of open items with the controlling ledger account. The balances of the appropriation accounts have been totalled and agreed with the control accounts in the general ledger. The appropriation accounts kept in the office of the Business Manager of the Chicago Departments have been checked against the corresponding accounts at the Business Office in Urbana. Stadium Fund.—Cash receipts and disbursements have been verified by inspecting the supporting vouchers and checking them into the cash book. The cash in Bank at March 31, 1929, has been confirmed to us by the depository Bank. The bond of the University Treasurer, in the amount of $1,500,000, and the bond of other Officers, Members of the Faculty and Employes, in a total of ¥163,400 have been inspected. Insurance in force at March 31, 1929, against losses byfire,windstorm, burglary, forgery and accidents, as shown by the insurance register, has been verified by inspection of the insurance policies. The records of the meetings of the Board of Trustees on January 9, February 13 and March 12, 1929, have been examined. All actions affecting thefinancesof the period under audit have been given effect in the books of the Business Office. The Comptroller's report to the Board of Trustees as at March 31, 1929, has been checked in detail into the books and has been found to be in agreement therewith. The report of the Comptroller to the Governor of the State of Illinois, covering the state appropriations for the period from July 1, 1927, to March 31, 1929, and local funds receipts and disbursements for the quarter ending March 31, 1929, has been checked into the books and has been found to be in agreement therewith. Appendix B

SYSTEM OF INTERNAL CHECK IN FORCE MARCH 31, 1929

In all departments where the cash receipts are of sufficient volume, cask registers are in use. The keys are in the custody of a sub-cashier in the Bursar's office. T h e readings are taken by the sub-cashier and verified by the cashier of the department. T h e cash is then counted and taken up by the sub-cashier, and a duplicate cash receipts record is prepared, one copy of which remains in the department, the other being incorporated in the daily cash receipts vouchers prepared in the Bursar's office. Duplicate cash sales tickets, supporting the daily cash report, are made out by the Department, one copy going to the department files, the other to the cash receipts voucher in the Bursar's office. With a few exceptions, noted elsewhere in our report, all departmental cash records are made out on numbered stationery. In the case of departments not receiving a sufficient amount of cash to warrant the use of a cash register, a numbered bound book containing duplicate sales tickets is issued to the department. A record is kept in the Bursar's office covering each sales book issued, with a space provided for each sales ticket, to befilledin as the tickets are sent in by the department. Each sales ticket is accounted for. Charge sales tickets are likewise made out in duplicate on numbered forms, one copy beingfiledby the Department, the other being sent to the Bursar's office. Here it is posted to the accounts receivable ledger and listed on duplicate numbered journal sheets, separate sheets being prepared for each Department. One copy of the journal sheet is sent to the Department, the other is entered in an invoice register, the monthly totals of which are posted to the general ledger. account Treasurer. the duplicate.by sub-vouchers, Illinois, cash In the office deposited withBank,National Bank isfiledintocredit cash receipts Urbana; the duplicate, supportedManager of the Chicagotheforthe Chicago office.for vouchersof The CitizensBusiness theThe original is forwardedRepublic,of Arthur M . Burke, are prepared in State received is of Champaign, of Departments, Chicago, in the Bursar's office All